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Intel Capital   News   Press Release 081505  
Intel Capital News - Press Release

Chipsbrand Microelectronics (HK) Co. Ltd. Received Funding from the Intel Capital China Technology Fund of Intel Capital and Legend Capital

Shenzhen, China, 15 August 2005 - Chipsbrand Microelectronics (HK) Co. Ltd. (the "Company") today announced that it has received funding from the Intel Capital China Technology Fund of Intel Capital and Legend Capital. Chipsbrand Microelectronics (HK) Co. Ltd. is the holding company of Chipsbank Technologies (Shenzhen) Co. Ltd. which is a Chinese fabless semiconductor company which provides high performance and cost effective system level IC solutions for the portable storage and multimedia market.

The Company believes that the market segment for portable storage and multimedia ICs in China has exhibited strong growth over the past two years and is expected to keep the fast pace over next few years due to high growth end markets such as MP3 players, mobile phones with multimedia functionalities, and digital cameras, and the continued trend of increasing manufacturing outsourcing of these end products to China. (see note 1). The Company has designed a software programmable high speed USB2.0 flash disk drive controller IC utilizing a proprietary 32bit CISC core. Since the USB pen driver controller IC was launched in early 2005, the Company has become a significant provider in this market segment (see note 2).

"We are delighted to receive funding from the Intel Capital China Technology Fund of Intel Capital and Legend Capital. The investment will enable us to speed up the development of new products, shorten the product launch duration and expand the market share," said Henry Zhang, CEO of Chipsbank (Shenzhen) Co. Ltd..

"China is becoming the worldwide manufacturing center. Most of the consumer products are manufactured in China right now. We have strong IC design experience from the world's leading IC design companies, such as Broadcom, Philips and the alike. We are confident that we are able to capitalize on the many opportunities in China and to provide customers with the most appropriate and price-competitive products," added Henry Zhang.

"Successful local fabless IC design companies are integral to the growth and development of electronics design and manufacturing industries in China" said Duane Kuang, director of the Intel Capital China Technology Fund. "Our investment in Chipsbrand is an example of Intel Capital's commitment to support local companies that offer unique products and services to meet the needs of the high growth consumer electronics and communications devices industry in China."

"We invested in Chipsbrand because we see the enormous opportunities in integrated circuit and consumer electronic products in China," said Legend Capital Managing Director Mr. Xiangyu Ouyang. "We are confident with the fast growth of Chipsbrand under the leadership of CEO Henry Zhang. We believe the investment from Legend Capital, will assist in its development to provide better products and services for its clients."

About Chipsbrand Microelectronics (HK) Co. Ltd. and Chipsbank Technologies (Shenzhen) Co. Ltd.
Since it was founded in 2004, the Company has focused on USB2.0 flash disk drive controller IC, and has become a fables IC design company in mainland China to provide IC in market segment The Company competes with overseas and Taiwanese competitors through higher performance, lower cost and better localized service. With its experienced R&D team and localized design service, Chipsbank is uniquely positioned to develop and promote innovative portable storage and multimedia controller IC. Chipsbank Technologies (Shenzhen) Co. Ltd. is wholly owned by Chipsbrand Microelectronics (HK) Co. Ltd. For more information, visit http://www.chipsbank.com/.

About Intel Capital
Intel Capital, Intel's venture investment program, focuses on making minority equity investments to grow the Internet economy in support of Intel's strategic interests. Intel Capital invests in hardware, software and services companies in several market segments, including computing, networking, and wireless communications. Intel Capital has invested more than US$4 billion in approximately 1,000 companies in more than 30 countries since 1991. Since its inception, about 160 portfolio companies have been acquired by other companies and another 150 have gone public on various exchanges around the world. Intel Capital employs investment managers in about 25 countries worldwide. Last year alone, Intel Capital invested more than US$130 million in about 110 deals with approximately 40 percent of its investments made outside the United States. For more information, visit www.intel.com/capital.

About the Intel Capital China Technology Fund
The Intel Capital China Technology Fund is a US$200 million investment program to help stimulate local technological innovation and the continued growth of China's IT industry. It also will be used to help accelerate technology adoption locally and foster development of innovative technologies with potential for global distribution. Investments will be made in Chinese technology companies developing innovative hardware, software and services.

About Legend Capital
Founded in April 2001, Legend Capital is an independent venture capital subsidiary of Legend Holdings Ltd. focused on driving high-growth IT investments in China and China-related companies at the start-up and expansion stages. It has over US$100 million and more than 30 investments across two funds under management. Successful investments include Joyo.com (acquired by Amazon.com) and SinoCom Software Group Ltd. (HKEX: 299). Legend Capital invests in companies in Internet-related products/services, wireless SP, outsourcing, digital media, IC design/key components, as well as select non-IT industries. Legend Capital provides its portfolio companies extensive business resources to assist with business development, company image building, and other critical company building activities in the China market. For more information, visit Legend Capital's website at http://www.legendcapital.com.cn/.

Note 1: http://media.ccidnet.com/pub/article/c2621_a291867_p1.html
Note 2: We are shipping the flash disk controller about 1 million units per month now, and the shipment volume is still increasing. We are the only PRC manufacturer of such kind of flash disk controller and one of the top three manufacturers over the world (approximately 20 manufacturers in the world).

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